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~ þ. >~ QO 131 ç~ <["I ~O ~~ ~ ~ro ' c..... Qg &5 ¡-:;: ORDINANCE NO. 1983-80 Q,~ :Þ - ~ W W % þ:I~U 40 rYe ~ '0 t:"" ...:1° «N :J ðJ°RDINANCE DESIGNATING A CERTAIN AREA AS REINVESTMENT ~:D ~ (")"' t:t ù)J ZONE NUMBER ONE, CITY OF SAN MARCOS, TEXAS, m - - °t L&J 1) 'õ ESTABLISHING A BOARD OF DIRECTORS FOR SUCH ZONE, ~ ~ S\ ('") C >- AND OTHER MATTERS RELATING THERETO. ~ ~ c;;><1" ~ ~b o~ ~ ro -.- 0 ~ if: ~ WH~~Si the City Council of the City of San Marcos, Texas, ~the "Ci ty" ) I desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone, as authorized by the Texas Tax Increment Financing Act of 1981, as amended, codified as Arti- cle 10GGe, Vernon's Texas Civil Statutes (the" Ac t" ); and WHEREAS, a hearing before the City Council was set for 7:30 p.m. on the 29th day of December, 1983, such date being at least seven (7) days after the date of publication of the notice of such public hearing; and WHEREAS, the City has called a public hearing and published notice of such public hearing, as required by Section 4 of the Act, and has given written notice to all taxing units overlapping the territory inside the proposed reinvestment zone; and WHEREAS, upon such hearing being convened there was presented proper proof and evidence that notice of such hearing had been published and had been mailed as described above; and WHEREAS, the City at such hearing invited any interested person, or his attorney, to appear and contend for or against the crea- tion of the reinvestment zone, the boundaries of the proposed reinvestment zone, whether all or part of the territory which is described by the metes and bounds description attached hereto as Exhibit A and depicted in the plat attached hereto as Exhibit B should be included in such proposed reinvestment zone, the con- cept of tax increment financing and the appointment of a board of directors for the proposed reinvestment zone; and WHEREAS, all owners of property located within the proposed rein- vestment zone and all other taxing units and other interested persons were given the opportunity at such public hearing to protest the creation of the proposed reinvestment zone or the inclusion of their property in such reinvestment zone; and WHEREAS, the proponents of the reinvestment zone offered evi- dence, both oral and documentary, in favor of all of the fore- going matters relating to the creation of the reinvestment zone, and two opponents of the reinvestment zone appeared to contest creation of the reinvestment zone;